Latest Valuation
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ROCE
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Location
Manchester

Amazing Development Opportunity in Manchester for 74 Houses with Planning Permission

The plan for this opportunity is to develop the site and benefit from the capital gains and great rental yields.
Guide Price
£5,000,000

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Key Features

  • Close to town
  • 74 houses
  • Full planning permission
  • Close to amenities
  • Gross yield up to 8.7%
  • Prime location in Manchester

The Property

This is an amazing development opportunity in Manchester for 74 houses with planning permission.

The site is in a sustainable location being close to the town centre within walking distance and close to bus stops and other local shops.

The site is located at the end of ash road, in Droylsden . It is adjacent the household waste recycling centre and was formerly part of it. It is close to the cemetery, allotments and sports fields. It is very close to other areas of housing and as the area is relatively flat is seen from many viewpoints in context with the other housing estates. The site is reasonably flat overall but has a central depression and an embankment to the east adjacent to the recycling centre. Therefore, this provides some screening between the 2 plots. The embankments topped with a fence.

This opportunity is currently used as a storage and business premises for a civil engineering company. The site presents as an untidy site and is currently under utilised. The current owner believes the site would be better redeveloped. The local plan identifies the site as previously developed and the planning department believe there are no overbearing policy issues that would prevent the site from being redeveloped for residential use.

The sites proposed change of use does not contravene local or national planning policy.

Selling Office: Manchester Central

Planning Information

N/A

The Plan

Amazing development opportunity in Manchester to built 74 houses.

Planning permission granted.

22 x 2 bedroom 1 bathroom at £160k
15 x 3 bedroom 2 bathroom at £200k
7 x 4 bedroom 2 bathroom at £250k
15 x 1 bedroom 1 bathroom at £80k
15 x 2 bedroom 2 bedroom at £110k

The plan for this opportunity is to develop the site and benefit from the capital gains and great rental yields.

The Financials:

Purchase price: £5,000,000
Sourcing fee: 2%
Gross yield: 8.7%
Total cash investment: £5,100,000

The Location

The site is located at the end of Ash Road, in Droylsden . It is adjacent the Household Waste recycling centre and was formerly part of it. It is close to the Cemetery, allotments and sports fields.

It is very close to other areas of housing and as the area is relatively flat is seen from many viewpoints in context with the other housing estates.

Manchester Piccadilly - 15 minutes
Etiham Stadium - 14 minutes
Victoria Station - 25 minutes
Intu Trafford Centre - 20 minutes

Average estimated value for a house in M34 2WE

£

Estimated value between £160k to £250k per property.

Estimated valued £80k to £110k per apartment.

Rental income between £580 to £925 pcm
Rental yield between 4.8% & 8.7%

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